Bessemer Group Inc. Increases Stake in Installed Building Products, Inc. $IBP

Bessemer Group Inc. increased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 3.6% in the first quarter, Holdings Channel reports. The fund owned 127,678 shares of the construction company’s stock after purchasing an additional 4,414 shares during the quarter. Bessemer Group Inc.’s holdings in Installed Building Products were worth $33,854,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in Installed Building Products during the 3rd quarter worth about $25,000. NewEdge Advisors LLC raised its holdings in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after purchasing an additional 133 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Installed Building Products in the 4th quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Installed Building Products during the third quarter valued at approximately $46,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Installed Building Products

In other news, COO Brad A. Wheeler bought 716 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $209.13 per share, with a total value of $149,737.08. Following the transaction, the chief operating officer directly owned 14,988 shares in the company, valued at approximately $3,134,440.44. The trade was a 5.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Thomas Miller bought 990 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the transaction, the chief financial officer owned 34,209 shares in the company, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 5,036 shares of company stock valued at $1,042,807 over the last three months. 13.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on IBP. Wells Fargo & Company cut their price objective on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. DA Davidson reaffirmed a “neutral” rating and set a $242.00 target price on shares of Installed Building Products in a research report on Monday, June 1st. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings cut Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $247.67.

Installed Building Products Stock Performance

Shares of IBP stock opened at $228.61 on Friday. Installed Building Products, Inc. has a 12-month low of $182.88 and a 12-month high of $349.00. The business’s fifty day simple moving average is $215.18 and its 200-day simple moving average is $266.36. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The company has a market cap of $6.16 billion, a PE ratio of 24.37, a PEG ratio of 5.67 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. During the same period in the prior year, the company earned $2.08 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts expect that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products’s payout ratio is presently 16.63%.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.